i always tell my students to learn as much theory as necessary, but as little as possible.

some basic knowledges can be a very powerfull partner when it comes to writing music. not necessarily when improvising though! some may dissagree here, but i personally think that it is way more important to be able to instantly play along with a tune you have never heard before and you dont know which key it is in - just by LISTENING.
99% of all studio-situations deal with very basic songs since thats where you make the most money with. and the ability to play those tunes by ear is what (for me) counts most. theory comes in handy when you encounter songs of a more difficult structure with unpredictable and mindboggling chord changes. in that case it will definitely be important to know your theory - but how often do you record non-prewritten guitarparts for frank zappa or his like?

to me, theory is a tool that helps me when i am stuck in a song and i cant seem to find a linking between two parts. when that happens i open the theory section of my mind and "construct" something that sounds well. other than that i rely on my ear and inspiration.

so much for the theory thing.

as for the speed thing. i think that in previous threads the tendency was not to generally bash speed and shred. it is a part of my training-routine aswell. what bugs me most is, that a very big part of the "young" or "new" guitarrists - those who are in the proces of startng out on guitar - is just after speed. nothing wrong with that, but i get the impression that speed is all that counts for them. i get the picture of a breed of new, superfast guitarrists with only one gual - 100 nps. thats why we (well - i at least) say that speed doesnt count. speed is (only) ONE part of countless others that make you a good guitarrist and most of all - a good musician.

[Edited by Azrael on 12-10-2003 at 02:13 AM]